SBI net banking, UPI, YONO down today: Here's why

State Bank of India (SBI) said that the services of Internet Banking, Yono Lite, Yono Business Web & Mobile App, YONO and UPI will not be available on April 1, 2024 due to Annual Closing activity. SBI stated this on the website.

When SBI digital services will not be available

Services will not be available tentatively between 16:10 Hrs IST and 19:10 Hrs IST on 1st April 2024.

According to the SBI website, “Due to Annual Closing activity, the services of Internet Banking, Yono Lite, Yono Business Web & Mobile App, YONO and UPI will not be available tentatively between 16:10 Hrs IST and 19:10 Hrs IST on 1st April 2024. During this period, services of UPI Lite and ATM will be available.”

Which services will be available during that time

During this period, services of UPI Lite and ATM will be available.

HDFC Bank asks customers to avoid this money transfer facility on April 1, 2024: Delay in salary and other payments

What is UPI Lite

UPI LITE is a new payment solution that leverages the trusted NPCI Common Library (CL) application to process low value transactions that have been set at below Rs 500.

Due to annual closing activities, other banking services that will be hit.

No exchange of Rs 2000 note

RBI has also said that the exchange and deposit of the Rs 2,000 notes will not be available on Monday, April 1. “The facility of exchange/deposit of Rs 2000 banknotes will not be available on Monday, April 01, 2024, at the 19 Issue Offices1 of the Reserve Bank of India due to operations associated with the Annual Closing of Accounts. The facility will resume on Tuesday, April 02, 2024,” RBI said in a notification issued on March 28, 2024.

HDFC Bank NEFT unavailable

Due to annual closing of accounts, HDFC Bank has notified customers that National Electronic Funds Transfer (NEFT) operations would not be accessible on April 1, 2024. Even if a limited number of HDFC Bank clients can use the NEFT function, it can take longer than expected. For individuals who intend to transfer money, Monday’s NEFT should be avoided.

Note that HDFC Bank customers may use other transaction methods such as Immediate Payment Service (IMPS), Real Time Gross Settlement (RTGS), and Unified Payments Interface (UPI) to transfer money on April 1, 2024.



Are banks open on April 1, 2024?

Banks in many states will be shut on April 1, 2024, due to the closing of their year accounts, according to the guidelines set by the Reserve Bank of India (RBI).So, check the list of bank holidays before going to your bank branch on Monday. Banks will remain closed in most of the states except Mizoram, Chandigarh, Sikkim, Bengal, Himachal Pradesh, and Meghalaya.

Also read: Are banks open today?

Harry Byrne

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